EastGroup Properties, Inc. (NYSE:EGP) Given Consensus Rating of “Moderate Buy” by Analysts

EastGroup Properties, Inc. (NYSE:EGP) has received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $190.9333.

A number of equities analysts have commented on EGP shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of EastGroup Properties in a report on Monday. Evercore ISI decreased their target price on shares of EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating for the company in a research report on Monday, October 6th. Wells Fargo & Company lifted their price target on shares of EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Robert W. Baird upped their price target on EastGroup Properties from $190.00 to $196.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Finally, Industrial Alliance Securities set a $200.00 price objective on EastGroup Properties in a research report on Monday, October 27th.

EastGroup Properties Stock Down 0.2%

Shares of NYSE:EGP opened at $179.07 on Thursday. The business’s 50 day moving average is $175.82 and its 200 day moving average is $170.23. The stock has a market cap of $9.55 billion, a P/E ratio of 37.62, a price-to-earnings-growth ratio of 2.72 and a beta of 1.11. EastGroup Properties has a 52-week low of $137.67 and a 52-week high of $188.89. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.42.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.01). The business had revenue of $182.14 million for the quarter, compared to the consensus estimate of $181.88 million. EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.13 earnings per share. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS and its Q4 2025 guidance at 2.300-2.340 EPS. Sell-side analysts predict that EastGroup Properties will post 8.94 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Richard Reid Dunbar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the sale, the executive vice president owned 20,630 shares in the company, valued at approximately $3,610,250. The trade was a 8.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of EastGroup Properties

A number of institutional investors have recently bought and sold shares of EGP. Cetera Investment Advisers increased its stake in EastGroup Properties by 16.8% during the 1st quarter. Cetera Investment Advisers now owns 3,600 shares of the real estate investment trust’s stock valued at $634,000 after purchasing an additional 518 shares in the last quarter. Assetmark Inc. raised its stake in EastGroup Properties by 1,035.7% in the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 145 shares during the last quarter. LPL Financial LLC lifted its position in EastGroup Properties by 19.5% during the 1st quarter. LPL Financial LLC now owns 15,890 shares of the real estate investment trust’s stock worth $2,799,000 after acquiring an additional 2,596 shares during the period. Federated Hermes Inc. grew its stake in EastGroup Properties by 10.5% during the 1st quarter. Federated Hermes Inc. now owns 6,568 shares of the real estate investment trust’s stock valued at $1,157,000 after purchasing an additional 625 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in EastGroup Properties by 8.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,161 shares of the real estate investment trust’s stock valued at $557,000 after purchasing an additional 254 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.